Vice Chairman Kim So-young presided over a meeting with relevant industry officials and experts on August 4 and held discussions on ways to promote the use of artificial intelligence (AI) in financial sectors and ensure public trust in financial services based on AI. In his opening remarks, Vice Chairman Kim emphasized the importance of making advancement in AI technology to make effective use of the exponentially increasing availability in big data amid hyperconnected networks and the hyperconvergence and big blur phenomena. To help realize success in digital financial innovation, Vice Chairman Kim said that financial regulatory reforms need to take place to ensure that financial sectors can make use of big data and AI technology effectively.

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